Short Symbols Roll Call

I’m starting my hunt for short symbols – please keep reloading this page every 10 minutes or so.

Let’s hope I won’t wind up like this poor guy.

Starting alphabetically (because my watch list does): AGN is on a rampage and may have a tiny bit more to go. If you feel adventurous grab a tiny unit here. But remember – the market needs to prove to you that you are right – probably best to wait for a bit of resistance.

ALTR: Sunday night I was wondering if I was too late with that one but I was wrong, which is a good thing. Now, don’t step in front of a bus here – probably best to wait for resistance as well. BTW, no matter what – get out before the earnings on 7/20.

AMJ – a bit early here – like many of the ones I’m looking at (maybe another reason to think that Soylent Blue is not done yet). Anyway, I’d love this one at 33.50 – if it gets there. Stop above the second diagonal. If it breaks down take profits at 30.

Who dares to slay the beast and live to tell about it? I tell you when P3 has started for sure: When AZO takes a hit – that’s when. Well, I can’t believe I’m suggesting this but AZO may be good for a few handles as it seems to bounce against some upside resistance. But don’t be a hero – if we breach both lines just get out and try your luck on an easier victim.

Another candidate in the small unit department. CF (an old time favorite) seems to have run out of steam a little and bounced off that diagonal line I painted. Keep it clean and set a stop slightly above 75 – it may try to burn a few more shorts and you don’t want throw money into its greedy jaws. Also, I am going to wait until it bounces up a little more – maybe if we get an EOD ramp?

CIB – I have seen worse setups. It’s at new highs and pushing against a diagonal. Be careful however – it may have another up day or two in it – so depending how you play leg in small or wait until you see weakness.

FTI – keep this one simple. Either it shows weakness and reverses or it will bust higher and burn more shorts. Stop around 63.25 – don’t let this one get away from you.

MO – play it now and KISS (keep it simple stupid). Meaning, set a stop above that line and leave it at that. Either it explodes higher here or the current weakness is a sign of more downside to come. I usually don’t love setups like this but I sometimes play them with small units. Only losses can teach me that a certain approach will not work.

Last one for today as we’re about to close. PM – again, keep it simple here and don’t be a hero. This one may touch that line before it turns (if it does, that is).

I have a few good ones left and will be back tomorrow!

Cheers,

Mole